Policy With Potentially Profound Implications
"The RBI is responsive and ready to aid the incipient revival of industrial growth; it is taking financial market reforms steadily further. But the RBI is a bit short in planning and spelling out a medium term strategy," says Raghbendra Jha.

Ranbaxy to focus on US, China for global market-share
It will introduce value-added products in the US markets, enter into over-the-counter segment in China, come out with new brand marketing in the UK by year 2000, and shift its focus on to Brazil, West Europe, Russia in the coming year.

 BSE, NSE and Forex:Sensex down 161 points to 4594, Nifty down
45 points to 1365, rupee steady at Rs 43.38 to US $

October 28, 1999

Transport strike called off
The government assured the All-India Motor Transport Congress that it would consider declaring the sector an industry. It also agreed to withdraw the notification increasing licence and other fees. But it refused to roll back the diesel price increase.

President's address has enough hints for Bimal Jalan
If the RBI Governor feels assured of action on the fiscal side, there is a clear case for a two
percentage point cut in bank rate. Only a fairly large cut will have the desired psychological impact on the economy," says R C Murthy.

HLL's net profit in 1999 up 23 pc at Rs 7.24 billion
Turnover during the third quarter rose by 7 per cent to Rs 24.51 billion. The domestic home and personal care business and the food categories recorded significant volume growth with the exception of tea and ice-cream business.

The Other Side of the Demat System
Dematerialisation of shares was considered the panacea for all stock market operational problems. But it is an expensive alternative and could be risky, says Devangshu Datta.

Citibank exec to manage Pakistan's finances
Finance Minister Shaukat Aziz, 49, is viewed by his peers as a brilliant banker and by successive governments as a touchstone of the new thinking needed to turn around an economy dragging a millstone of debt.

Adhere to CTBT, Richardson tells India
'I ask, here and now, that India end production of fissile material and join us in urging immediate negotiations for a global Fissile Material Cut-off Treaty, strengthen its export controls, and restrain its missile programme,' the US energy secretary said.

US links co-operation to nuke issues
'The progress in non-proliferation issues will definitely lead to Indo-US collaboration in many vital sectors,' said Energy Secretary Bill Richardson, who arrived in New Delhi last night.

Japan to set up town in Goa for MNCs' benefit
By developing infrastructure of highest quality, the Industrial Model Town intends to bring in investment in hi-tech and sophisticated technology as well as export oriented units.

Apex Court asks govt to explain progress on TRIPS stance
The government had cited WTO obligations as reason for amending the Patents Act to grant exclusive marketing rights to MNCs. However, the TRIPS pact itself is coming up for review. But India has not taken any step so far to ensure that TRIPS is amended to suit its interests, a petition said.

 BSE, NSE and Forex:Sensex up 32 points to 4815, Nifty down 20 points to 1413, rupee up two paise to Rs 43.38 to US $

October 24-25, 1999

Govt, transporters harden stand
The government said the transporters did not turn up for a fresh round of talks with transport ministry officials on Sunday. The transporters retorted that they were never invited.

Coming up next for Cabinet nod: Companies Bill
Failure to report default in re-payment to small depositors to the Company Law Board within 60 days is proposed to be made a criminal offence, said Company Affairs Minister Ram Jethmalani.

Essar offers note-holders alternative options
The options included extending the maturity of the loan by 12 years on
par with secured creditors of the company, extending maturity of the
loan by five years and continuing as unsecured creditors or exit on
a basis to be negotiated.

Reliance Q2 net up to Rs 6.12 billion
The net profit in Q2 of last fiscal was Rs 4.8 billion. The results have exceeded industry expectations. Analysts have attributed the impressive results to higher margins triggered by petroleum product price rises and rise in volumes.

France nabs Indian businessman on Peugeot's complaint
Jaipur-based Autolite India has put up for sale lamps for the Peugeot 205 car at an exposition in Paris. Peugeot has claimed that the design of the lamp is a copy of its own design, thus violating the copyright.